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ICE Canola Mixed in Thin Trade

WINNIPEG, MB, Nov. 8, 2017 (CNS Canada), Nov 08, 2017 (Commodity News Service Canada, Inc. via COMTEX) --

ICE Futures Canada canola contracts were holding within a dollar of unchanged Wednesday morning, lacking any clear direction as traders keep to the sidelines ahead of Thursday's monthly U.S. Department of Agriculture report.

The report will give a clearer picture on the size of the U.S. soybean crop, which could dictate the nearby direction in the North American oilseed markets.

Soybean and soyoil futures at the Chicago Board of Trade were posting small gains Wednesday morning, providing some underlying support for canola.

However, the Canadian dollar was firmer in early activity, which weighed on values.

About 3,500 canola contracts had traded as of 8:50 CST.

Prices in Canadian dollars per metric ton at 8:50 CST:

                          Price      Change
Canola            Jan     519.40    dn  0.70
                  Mar     526.10    dn  1.00
                  May     532.10    up  0.50

Phil Franz-Warkentin, Commodity News Service Canada

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